Market Synopsis:
Flight management systems are centralized computer programs designed for commercial aircraft to control multiple operations at the same time such as navigation sensors and radios, flight control system, displays, engine & fuel system, surveillance systems data link system, and others. According to the latest report published by Market Research Future (MRFR), the global flight management systems market is poised to register a CAGR of over 6% across the review period 2018 to 2023. Increasing investments in the automation of aircraft are expected to catalyze the expansion of the global market over the next couple of years.
Rising disposable income has led to a drastic rise in the demand for air travel. This, in turn, is expected to expedite the growth of the commercial fleet size on the global front, thus, backing the growth of the flight management systems market in the years to come. Increasing investments in the purchase of new aircraft are expected to drive the growth of the flight management systems market in the forthcoming years.
Competitive Dashboard:
Collins Aerospace (part of United Technologies Corporation (US)), Thales SA (France), Garmin Ltd. (US), General Electric Company (US), Esterline Technologies Corporation (US), Honeywell International Inc. (US), Jeppesen Sanderson, Inc. (part of Boeing (US)), Innovative Solutions & Support Inc. (US), NAVBLUE S.A.S. (part of Airbus (France)), and Universal Avionics Systems Corporation (part of Elbit Systems Ltd. (Israel) are some of the noted players profiled in the global flight management systems market. These players are expected to play a substantial role in the competitive landscape of the global market over the next couple of years.
Modernization of the existing fleet is also anticipated to open new growth avenues over the next few years. The growth of the aviation industry is projected to lead the expansion of the flight management systems market over the next couple of years. Also, investments in technological advancements are assessed to increase over time. It is poised to benefit the flight management systems market in the nearby future. On the other side, these systems are prone to cyberattacks, which is expected to check expansion of the market across the evaluation period. Also, the backlogs in aircraft deliveries remain impediment to market growth.
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Market Segmentation:
By component, the segments of the global flight management systems market are control display unit, flight management computer, and multi-function display. Among these, the flight management computer segment is expected to lead the growth of the market over the next few years.
By fit, the two segments of the flight management systems market are line-fit and retrofit. The line-fit segment led the market in 2017 and is poised to maintain its standing in the global market place in the years to come.
By aircraft type, the global flight management systems market has been segmented into narrow-body, wide-body, and others. Among these, the narrow-body segment is projected to dominate the market owing to its extensive use in the aviation industry.
Regional Analysis:
The geographical study of the global flight management systems market spans across five major regions – South America, Asia Pacific (APAC), North America, the Middle East & Africa (MEA), and Europe. These regions identified in this report are further studied on a country-level basis. Among these, North America is anticipated to hold the most prominent share of the global market. It is owing to the presence of major OEMs in the region such as Boeing and Bombardier. In addition, rising air traffic in the region is also expected to contribute to the development of the flight management systems market over the next couple of years.
Table of Content:
1. Executive Summary
2. Scope of The Report
2.1. Market Definition
2.2. Scope of The Study
2.2.1. Definition
2.2.2. Research Objective
2.2.3. List of Assumptions
2.2.4. Limitations
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
4. Market Landscape
4.1. Porter’s Five Forces Analysis
4.1.1. Threat of New Entrants
4.1.2. Bargaining Power of Buyer
4.1.3. Threat of Substitutes
4.1.4. Segment Rivalry
4.1.5. Bargaining Power of Supplies
4.2. Value Chain/Supply Chain Analysis
Continued. . .
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